How you use the time you spend working on your business has a huge impact

Work Smart Not Hard Tip No. 52 in a series written for Indie Cambs

Last week I got a message that made me determined to keep asking this question!

“I think I need this to pop up on my computer screen every Monday morning just to focus my mind…”

If you want to focus on using your time in the most profitable way this is the process:

1. Have a clear goal. This will stop you wasting time exploring every new idea that pops up that promises you things you don’t really need or want.

2. Make plans for how you will achieve your goal. Break them down into manageable chunks of time, especially monthly and weekly plans. When you hit an obstacle (see last month’s WSNH tip) or are given an unexpected opportunity, adjust your plans accordingly but always with the end goal in mind.

3. At the start of each week, review you plan and ask “Am I using my time in the best way to make my business more profitable?”

4. At the end of each week, review what you did. Celebrate what worked if it took you closer to your goal and adjust your plan for next week if you need to.

None of this needs spreadsheets or business degrees. If you do this every week you’ll soon see whether what you do is working and if you want to make more profit and spend less time doing it, you’ll know what questions to ask yourself:

Will more customers and more revenue create more profit or more work?

Will a price increase create more profit but lose customers? (Unless you sell on price in a highly competitive sector, this is unlikely.)

Focusing on your time / money equation every week stops you from sliding into unprofitable activities that make you feel busy and productive but don’t take you closer to your goal.

If you’d like to talk about setting goals, making plans to reach them and the time / money equation, just get in touch